Next Generation Apple iPad Likely to be Released in 2012

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The next generation of Apple iPad is in the making and could be launched sometime early next year.

The Wall Street Journal reported on Friday that sources say that Apple Inc. has been collaborating with part suppliers and the product's assemblers in Asia for a trial production.

Not much is known about the changes that will be made to the device in the creation of the iPad 3. Suppliers say that Apple has placed orders for a 9.7-inch screen. The device is also expected to have a 2048 x 1536 high resolution display, an improvement upon iPad 2's 1024 x 768 display.

Though little is known about changes to the device, one supplier says that Apple has already ordered enough parts for around 1.5 million of the devices in the fourth quarter.

During their third financial quarter this year, which ended on June 25, Apple set company records for quarterly revenue, with $28.57 billion, and net profit, $7.31 billion.

Their record-breaking success was due, in part, to a significant increase in iPad sales. The company sold 9.25 million units of the tablet device during the third quarter, a 183 percent increase over the comparable 2010 quarter.

Fans of the Cuptertino, Calif. company and its iPad had originally hoped for the newest generation's release to come in the fall of 2011, but it appears that they will have to wait at least a few more months before they can get their hands on the newest in Apple's tablet technology.